High Court Rules Tax Refund Must Be Issued with Interest; Assessing Officer Misapplied Sections 241A and 143 of Income Tax Act.

High Court Rules Tax Refund Must Be Issued with Interest; Assessing Officer Misapplied Sections 241A and 143 of Income Tax Act. https://www.taxtmi.com/highlights?id=59135 Withholding of the refund - The procedure followed by the Assessing Officer does not show the proper application of two independent provisions as in Section 241A and Section 143 wherein once a refund is declared after scrutiny proceedings and such refund is withheld, a reasoned order has to follow because the assessment in such a case is done after production of materials and evidence required by the AO. - Refund to be granted w ith interest - HC en-us Tue, 10 Aug 2021 08:57:33 +0530 Tue, 10 Aug 2021 08:57:33 +0530 TaxTMI RSS Generator High Court Rules Tax Refund Must Be Issued with Interest; Assessing Officer Misapplied Sections 241A and 143 of Income Tax Act. https://www.taxtmi.com/highlights?id=59135 Withholding of the refund - The procedure followed by the Assessing Officer does not show the proper application of two independent provisions as in Section 241A and Section 143 wherein once a refund is declared after scrutiny proceedings and such refund is withheld, a reasoned order has to follow because the assessment in such a case is done after production of materials and evidence required by the AO. - Refund to be granted w ith interest - HC Highlights Income Tax Tue, 10 Aug 2021 08:57:33 +0530 https://www.taxtmi.com/highlights?id=59135